Genius Sports (NYSE:GENI) Trading Down 7.5% - Time to Sell?

Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price dropped 7.5% during trading on Friday . The company traded as low as $9.76 and last traded at $9.69. Approximately 4,379,257 shares changed hands during mid-day trading, an increase of 42% from the average daily volume of 3,077,377 shares. The stock had previously closed at $10.47.

Analyst Ratings Changes

GENI has been the topic of a number of research analyst reports. Lake Street Capital increased their price target on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. BTIG Research raised their price target on shares of Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Guggenheim assumed coverage on shares of Genius Sports in a report on Tuesday, March 18th. They issued a "buy" rating and a $12.00 price target on the stock. Benchmark reaffirmed a "buy" rating and issued a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. Finally, B. Riley reaffirmed a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.

Genius Sports Stock Performance

The company has a market capitalization of $2.11 billion, a PE ratio of -30.57 and a beta of 1.87. The business's 50-day moving average is $10.04 and its 200-day moving average is $9.53.

Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $143.99 million during the quarter, compared to analysts' expectations of $143.31 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. Analysts expect that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Genius Sports in the first quarter worth about $37,000. Pacer Advisors Inc. grew its stake in shares of Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after acquiring an additional 1,430 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Genius Sports in the fourth quarter worth approximately $58,000. IPG Investment Advisors LLC bought a new stake in shares of Genius Sports in the first quarter worth approximately $107,000. Finally, Park National Corp OH bought a new stake in shares of Genius Sports in the first quarter worth approximately $107,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.